LVB Branch Mergers and Relocation

     

    Important Announcements

    As you are aware, in November 2020, Lakshmi Vilas Bank was amalgamated with DBS Bank India Limited. The information given on this page and beyond is for all our customers, old and new, to know about the impact of this amalgamation on their banking requirements.

     

    Client ID Change

    Your Client ID is the unique number which the Bank uses to identify you and map the various relationships that you hold with us.

    • If you already hold a DBS Bank Account, the DBS Bank Client ID will continue without any change.
    • In case you do not have a DBS Bank account already, your existing Client ID (which you used in the erstwhile LVB system) will change from the existing 8-digit number to a 10-digit number, as shown below:

    Type of account

    Change

    Existing Customer ID

    New Customer ID

    Individual / HUF

    The characters 2L will be prefixed to the existing Customer ID

    1

    2

    3

    4

    5

    6

    7

    8

    2

    L

    1

    2

    3

    4

    5

    6

    7

    8

    Non-individual

    The characters 1L will be prefixed to the existing Customer ID

    8

    7

    6

    5

    4

    3

    2

    1

    1

    L

    8

    7

    6

    5

    4

    3

    2

    1
     

    Account Number Change

    To ensure we minimize the inconvenience for you, we have taken care to ensure that your 16-digit Account Number remains the same. 

    However, please ensure that you mention the complete 16-digit account number when there is any inward transaction into your account. In case the sender (or you, if you are filling any form or providing your account details) omits any digit or mentions any incorrect number, please note that the amount will not get credited into your account, and the incoming payment will get declined. Please ensure that the complete details are mentioned without any error.

    For instance, if your existing Account Number is 0122334455667788 (which is 16-digits including the 0 in the beginning), the earlier banking system permitted the Account Credit to be done if only 15 digits (122334455667788) were mentioned. Please note that the account will get credited with the funds only if the complete number 0122334455667788 (with all 16 digits) is mentioned.

     

    Corporate Account Tariff Sheet

    With effect from the migration date, some of the Current Account variants will undergo changes in the name, requirements for Average Quarterly Balance, Schedule of Charges etc. The complete details of these can be accessed here

     

    Fixed Deposit Account Details

    The account number of any Fixed Deposit (if any) that you hold with us will change from the earlier 16-digit number to a 20-digit number with effect from the migration date mentioned earlier. A suffix of 4 zeroes (0000) followed by 1 / 2/ 3 will be added to the end of the existing FD Account number

    Old FD Account Number Format (16 digits)

    X

    X

    X

    X

    X

    X

    X

    X

    X

    X

    X

    X

    X

    X

    X

    -

    X

    		      

    New FD Account Number Format (20 digits)

    X

    X

    X

    X

    X

    X

    X

    X

    X

    X

    X

    X

    X

    X

    X

    0

    0

    0

    0

    X

    This system migration brings one more benefit for you – in case your Fixed Deposit is scheduled to mature on a date which is a bank holiday, the proceed of the maturity will be credited on the next working day, and you will be eligible to earn additional interest for the extra days.

     

    Business Loan Accounts

    There will be no changes pertaining to your business loan account. The rate of interest, EMI amount tenure will continue to remain the same as earlier. The Loan Outstanding Amount as on the migration date will also get migrated to the new system without any change.

     

    Trade Transactions

    All your outstanding trade transaction reference numbers will undergo change and the same will be communicated to you post the final migration. Please reach out to your relationship manager or walk into the nearest DBS Bank branch and they will assist you in managing your trade transactions seamlessly.

     

    FX Online via IDEAL

    All your outstanding FX Forward reference numbers will undergo change and the same will be communicated to you post the final migration. Please reach out to your relationship manager or walk into the nearest DBS Bank branch and they will assist you in managing your trade transactions seamlessly along with an update on DBIL digital FX offerings

     

    Nostro agent bank change

    For all your cross-border / import / export transactions, our nostro details will undergo change as below. Please update your counter parties about this change for sending/receiving money seamlessly.

    Sr No Currency Correspondent Bank Swift ID
    1 USD JP MORGAN CHASE CHASUS33
    WELLS FARGO PNBPUS3N
    2 SGD DBS SINGAPORE DBSSSGSG
    3 JPY SUMITOMO MITSUI BANKING CORPORTION TOKYO SMBCPJT
    4 EUR BARCLAYS BANK IRELAND FRANKURT BARCDEFF
    5 GBP BARCLAYS BANK LONDON BARCGB22
    6 AUD NATIONAL AUSTRALIA BANK - MELBOURNE NATAAU33
    7 CHF UBS ZURICH UBSWCHZH80A
    8 HKD DBS (HONGKONG) LTD DHBKHKHH
    9 CAD TORONTO DOMINION BANK TORONTO TDOMCATTTOR
    10 NZD ASB BANK LTD AUCKLAND ASBBNZ2A
    11 SEK SKANDINAVISKA ENSKILDA BANKEN STOCKHOLM ESSESESS
    12 AED NATIONAL BANK OF ABU DHABI NBADAEAA
    13 NOK DNB NOR BANK ASA OSIO DNBANOKK
    14 ZAR STANDARD BANK OF SOUTH AFRICA LIMITED SBZAZAJJ
    15 CNH DBS HONGKONG DBSSHKHKHH
    16 CNY DBS CHINA DBSSHKHKHH
    17 THB DBS THAILAND BKKBTHBK
    18 DKK NORDEA BANK DENMARK NDEADKKK
     

    DBS IDEAL

    Important to note that at present we are sending the Internet banking log-in credentials starting 13th November to ensure that you create your 1FA (password) and 2FA (PIN) before actual migration happens. Which means post successful login the Internet banking webpage and Mobile App will be blank. You will receive the email containing the log in credentials in an attached password protected pdf file from “idealreg@dbs.com” email id and an SMS containing an OTP to open the pdf file from SMS handle as “DBSBNK”. We shall inform you on the actual date of your account migration in subsequent communications.  

    You can activate your internet banking facility once you receive the login credentials. Visit https://www.dbs.com/in/sme/day-to-day/ways-to-bank/online-banking-ideal, bookmark the URL and log in at least once on both Web and Mobile App before 30 Nov 2022. To know how to log in, visit go.dbs.com/howtologin.
    Note: DBS IDEAL Web works well on Google Chrome, Mozilla Firefox, and Apple Safari

    You will be able to see your accounts on DBS IDEAL only after the final migration takes place which has been tentatively scheduled for December 2022 (we will notify you on the exact dates shortly) — do not worry if you see a blank screen post login until then.


    .
    To access DBS IDEAL on your mobile, you must download the DBS IDEAL Mobile app. The minimum operating system requirement is Apple iOS 11 and above for iPhone users and Android 8.0 Oreo and above for Android phone users

    Important: We urge you to login as mentioned above before 30 Nov 2022 using the credentials shared with you. If you face any difficulties, reach out to us through your nearest branch or via email/helpline number.

    Mandatory Requirements:

    • Active mobile numbers and email IDs of all the authorized users of the internet banking platform within your organization is necessary for accessing the DBS IDEAL platform. Hence, kindly update them (if needed) by visiting the nearest branch.
    • Please ensure that the date of birth and valid identity proof of all the authorized users of the internet banking platform within your organization are also updated in the bank’s records.

    Once the systems are completely migrated from the existing platform to DBS IDEAL, your corporate banking account details will be visible on the new platform. Post which, you will be able to transact seamlessly on DBS IDEAL. We shall keep you posted on the date of the final migration. We will send you a separate letter with all the details.

    As a part of the onboarding requirement with DBS, you hereby agree and provide your unconditional and irrevocable consent to DBS terms and conditions governing IDEAL corporate net banking. DBS IDEAL is available at https://ideal.dbs.com/loginSubscriberv2/login/pin, and the iOS App Store and Google Play Store in respect of the mobile application. 

    In case you have any concerns in respect thereof, please visit your nearest branch or call or write to DBS Business Care. You can contact us within 10 days from the date of issuance of the letter / receipt of email. In the absence of this, the said terms and conditions will be deemed to be fully accepted by you with effect from the date of issuance of this letter. Find our contact details at the end of this letter.

    Should you have any concerns or queries pertaining to the transition to the DBS IDEAL platform, please do not hesitate to reach out to your Relationship Manager or walk into the nearest DBS Bank branch. You can also write to us at heretohelpin@dbs.com or call us on 044-66328010.

    DBS IDEAL | Intelligent, intuitive business banking at your fingertips

    Like with most of the integrated systems, you will notice that certain features, as listed below, may not be available on the DBS IDEAL platform initially. However, you can continue to avail these services through your Relationship Manager or network branches: 

    Hassle-free domestic and cross-border transactions
    Separate salary & bulk file payments module
    Multiple modules with account information
    Schedule reports including MT/CAMT & DIY alert
    Digital trade, FX & loan modules* (basis request)
    Admin Module / IDPMS-EDPMS Regularization* (basis request)
    Trade & Supply Chain Finance / Custody Module* (basis request)
    Future dated transaction/s processing
    Quick access to current balance & last 5 transactions pre-login
    Form 26AS redirection
    Bill Payments (BBPS)
    Payment Gateway
    Physical/hard token for login Simpler soft token-based login approval notification sent to your registered smart phone
    One-view for savings and current accounts Savings account via digibank & Current account via DBS IDEAL
    Combined e-statements Account level e-statement & reports available via DBS IDEAL
    Debit card management Contact DBS Business Care
    Transactions not approved in existing net-banking platform To be initiated again on DBS IDEAL post migration
    *To avail these features, DBS may request you to submit some additional documents.

     

    For the following services, you are requested to visit your nearest DBS Bank branch:

    Standing instructions* creation & discontinuation

    Recurring deposits

    Cheque book request

    Interest Certificates

    *Existing standing instructions will continue to process as usual

    Offline Limits: Post 6:30PM, customer will be able to transfer a maximum of Rs. 10 Lakhs till next working day 5AM. Post migration, user logs for past transactions will not be available/visible on DBS IDEAL.

    To help you become more comfortable with the DBS IDEAL platform, we have created detailed step-by-step guides of the DBS IDEAL modules and tutorials videos which can be accessed by visiting go.dbs.com/About IDEAL 

    • Understanding your IDEAL e-welcome letter and the login credentials
    • The roles, limits, and mode of operations of all the authorized users of the internet banking platform within your organization will continue to be as usual.
    • On the migrated platform, all beneficiaries added will be linked across all accounts under the Organization/Customer ID. 
    • Alerts / reports can be set-up by the users as per requirement on the DBS IDEAL platform
    • All SMSes and Emails that you will receive post migration will be as per DBS guidelines & processes which may differ from the format in which you are receiving it currently.
    • You may be asked to submit additional documents like BR or equivalent and application forms apart from KYC documents
     

    Always be alert & aware!

    DBS Bank India Limited (DBIL) or its employees will never call you & ask for your personal details or email you any link to update your sensitive information. Please don't give cash/blank signed cheques/fund transfer forms to DBS staff. Do not click on any link within a SMS/email or any suspicious message claiming to be from DBIL or any other unknown source.

    Never share any Passwords /OTPs/Card details like CVV with anyone, even if they claim to be from the DBIL/RBI/other Regulatory bodies, etc. If you receive such requests, please contact us immediately.

    Always use secured network for account activity & check account related alerts sent from DBIL. Please report any unauthorized transactions immediately.

     

    Frequently Asked Questions (FAQs)

    Please read through the below mentioned frequently asked questions (FAQs) to address any queries you may have.

     

    Personal Banking Related

    To know more about the changes to your personal banking relationship with DBS Bank, click here.

     

    Current Account & FD Related

    Savings & Current Accounts 

    The account numbers of your existing Savings / Individual Current accounts will continue to remain the same and your cheques will continue to be honoured. There is no requirement for you to replace your cheques right away. Your existing debit card also will continue to function seamlessly.

    A few of the Savings Account / Current Account products have been reviewed and upgraded, leading to changes in their features. Though you will not need to take any immediate action for this upgrade, we request that you refer to the Corporate Account Tariff Sheet section above for the complete list of changes and the revised schedule of charges for your corporate relationship and click here for details of the changes in your personal banking relationship.

    If the specific variant of the accounts held by you is not listed in the link provided above, then that existing account will continue as is, without any changes in features or schedule of charges.

    Customer ID

    If you already have a DBS Bank account, your Customer ID from DBS Bank will continue and your LVB accounts will get linked with it, and your old erstwhile LVB Customer ID will no longer be valid.

    If you do not have a DBS Bank account, then your Customer ID will change. Please refer to Client ID Change section above on how your Customer ID will change.

    You may continue using your existing cheques with the current branch details, or request for a new one at your convenience. Your Debit Card will continue to be operational with the same card number, PIN and CVV number till the expiry date mentioned on it.  At the expiry of that card, you will receive a fresh card with the corresponding details.

    Your Fixed Deposit account number will change from a 16-digit account number to a 20-digit account number post-migration. Please refer to Fixed Deposit Account Details section above.

    If your Fixed Deposit matures on a date which is a bank holiday, then the maturity amount will be credited on the next working day, and you will be eligible to earn additional interest for the extra days applicable to your Fixed Deposit.

    The existing standing instructions set up in your account will remain active and will continue to be in effect. Any existing standing instruction can be changed upon a written request at the branch.

    Your IFSC code and account number will not change because of the migration. However, all inward transactions to your account shall be credited only if the complete 16-digit account number is entered by the sender while initiating the payment. 

    If the sender uses an incomplete account number, the incoming fund transfer shall get rejected.

    To avoid any inconvenience, kindly ensure that the sender uses your complete 16-digit account number while transferring the funds. Please refer to Account Number Change section above.

     

    DBS IDEAL Related

    Your existing LVB mobile banking and internet banking applications would no longer be available post-migration. You will be able to access your current accounts online via DBS IDEAL corporate net-banking platform.

    The following are pre-requisites to access your LVB current account on DBS IDEAL corporate net-banking platform (mobile app & web):

    • Please ensure your mobile number and/or e-mail address are registered with us so that you can receive the DBS IDEAL login credentials.  You will receive the email containing the log in credentials in an attached password protected pdf file from “idealreg@dbs.com” email id and an SMS containing an OTP to open the pdf file from SMS handle as “DBSBNK”. Use these credentials to login into DBS IDEAL which can be accessed here: https://www.dbs.com/in/sme/day-to-day/ways-to-bank/online-banking-ideal
    • Please ensure that the date of birth and valid identity proof of all the authorized users of the internet banking platform within your organization are also updated in the bank’s records. 
    • You can see your accounts on DBS IDEAL only after the final migration takes place which has been tentatively scheduled for December 2022.
    • DBS IDEAL Web works well only on Google Chrome, Mozilla Firefox, & Safari web browsers.
    • To access DBS IDEAL on your mobile, you must download the DBS IDEAL Mobile app. The minimum operating system requirement is Apple iOS 12 and above for iPhone users and Android 10.0 and above for Android phone users.

    In case you need further assistance, please walk into your nearest branch, or write to us at heretohelpin@dbs.com or call us on 044-66328010.

    For more details, please refer to DBS IDEAL section above.

    DBS IDEAL supports all major browsers, except Internet Explorer. Please use Google Chrome, Mozilla Firefox, & Safari browsers to access the DBS IDEAL platform.

    The DBS IDEAL mobile application can be downloaded from major app stores like Google Play (Android) and the iOS App Store (Apple Devices). To download the application successfully please ensure the following minimum operating system (OS) requirement are met: Apple iOS version 12 and above & Android version 10 and above.

    Once your DBS IDEAL account has been created successfully, you will receive a welcome e-mail on your registered e-mail ID. The welcome email contains a password protected e-welcome PDF with your user credentials, the password for the pdf would be shared on your registered mobile number. Additionally, please ensure that your correct email id and mobile number and updated in the bank records.

    The Welcome email will provide you an overview of DBS IDEAL and its offerings and will have a Password protected pdf, which would contain your DBS IDEAL credentials. Access the credentials using the OTP password sent to your registered mobile number as an SMS and continue with the First Time Login process on Web and the DBS IDEAL Mobile Application.

    The credentials created are Organization ID (common across all users of an organization), User ID (unique to each user) and One Time Registration Code (Required to set password at the time of First Time Login). 

    You may also receive your registered e-mail id and One Time Registration Code as your credentials for the First Time Login process.

    Yes, DBS IDEAL allows users to log in using the registered email id and password. This login is view only and to have the same available the user needs to ensure that his Name, email id, Date of Birth and Government Identification are up to date in the DBIL database.

    Organization ID is created for each entity that has an IDEAL account, the Organization ID is common for all users under that entity, while the User IDs are unique to each user.

    Yes, please proceed with the email login option on IDEAL Web & Mobile. Enter the registered e-mail id and One Time Registration Code for the First Time Login Process.

    Please check your inbox carefully, also check the SPAM folder and clear cache if required. If still you are unable to view the Welcome email, please contact DBS business care (Info below).

    Email- heretohelpin@dbs.com | Call- 044-66328010

    Please recheck your messages, if you are unable to locate it, please contact DBS business care (Info below).

    Email- heretohelpin@dbs.com | Call- 044-66328010

    OTRC stands for One Time Registration Code. As the name suggests the code is used for only First-time login onto IDEAL. The IDEAL platform will ask you to set a new password post your first-time login using the OTRC. Post setting up the new password, please use the password for all future logins.

    The DBS IDEAL Mobile Application acts as a 2nd Factor Authentication tool. For all logins and transaction approvals the IDEAL Mobile Application would be required for authentication.

    Post setting up the Digital Token. The IDEAL mobile application would be used for all Web logins as a 2nd factor authentication tool. Authentication for Web Login can be done in the below mentioned ways: -

    Push Authentication (Swipe Right on the Mobile App) for login. Please ensure your Push Notifications for the DBS IDEAL Application is enabled. 

    Generate Token (8 Digit) from the IDEAL mobile application login screen and enter on DBS IDEAL web for successful 2FA login.

    Please ensure that your mobile OS is up to date. To access DBS IDEAL, the mobile app is mandatory, and the minimum operating system (OS) requirement is Apple iOS version 12 and above & Android version 10 and above. For further support, please contact DBS business care for help (Info below).

    Email- heretohelpin@dbs.com | Call- 044-66328010

    Use at least 8 characters containing letters, numbers, and symbols. For further assistance please contact DBS business care (Info below).

    Email- heretohelpin@dbs.com | Call- 044-66328010

    One Time Registration Code for IDEAL remains valid for a period of 30 days from date of generation.

    If your OTRC has expired (valid for 30 days) please re-send the same by clicking on Resend first-time login details on the IDEAL Website or contact DBS business care (Info below).

    Email- heretohelpin@dbs.com | Call- 044-66328010

    Yes, you can re-send the same by clicking on Resend first-time login details on the IDEAL Website or contact DBS business care (Info below).

    Email- heretohelpin@dbs.com | Call- 044-66328010

    Yes. In Dec’22 you will only be able to generate statement for only 1 month (Nov’22), in Jan’22 you will be able to generate statement for the past 6 months & starting Feb’22 you will be able to generate statement for the past 18 months.

    Like most of the integrated systems, you will notice that certain features, as listed below, may not be available on the DBS IDEAL platform initially. However, you can continue to avail these services through your RM or network branches:

    Hassle-free domestic and cross-border transactions

    		 ✔

    Separate salary and bulk file payments module

    		 ✔

    Multiple modules with account information

    		 ✔

    Schedule reports including MT/CAMT and DIY alert 

    		 ✔

    Digital trade, FX, and loan modules* (basis request)

    		 ✔

    Admin Module/IDPMS-EDPMS Regularization* (basis request)

    		 ✔

    Trade and Supply Chain Finance/Custody Module* (basis request)

    		 ✔

    Pre-login access to the current balance and last five transactions

    		 ✔

    Form 26AS redirection

    		 ✕

    Bill Payments (BBPS) 

    		 ✕

    Payment Gateway

    		 ✕

    Physical/hard token for login

    Simpler soft token-based login approval notification sent to your registered smartphone

    One-view for savings and current accounts

    Savings account via digibank & Current account via DBS IDEAL

    Combined e-statements

    Account level e-statement and reports available via DBS IDEAL

    Debit card management

    Contact DBS Business Care

    *To avail these features, DBS may request you to submit some additional documents.

    For the following services, you are requested to visit your nearest DBS Bank branch:

    Standing instructions* creation & discontinuation

    Recurring deposits

    Cheque book request

    Interest Certificates

    *Existing standing instructions will continue to process as usual


    Offline Limits: Post 6.30PM, you will be able to transfer a maximum of Rs. 10 lakhs until 5.00am of the next working day. Post-migration, user logs/activities for past transactions will not be visible on DBS IDEAL platform.

    To help you become more comfortable with the DBS IDEAL platform, we have created detailed step-by-step guides of the DBS IDEAL modules and tutorial videos. You can access them by clicking here.

    You can refer to the DBS IDEAL functionalities & modules on our website here.
     

    Business Loan Account Related

    There will be no changes pertaining to your business loan account. The rate of interest, EMI amount tenure will continue to remain the same as earlier. The loan outstanding amount, EMI schedule, EMI amount & interest rates as on the migration date will also get migrated to the new system without any change.

    All your loan-related details will be accessible via the DBS IDEAL platform. To access this platform kindly ensure you have met all pre-requisites for a seamless migration to DBS IDEAL.

    Should you need any assistance or details regarding your loan accounts, please walk into your nearest branch or write to us at heretohelpin@dbs.com or call us on 044-66328010.

    For foreclosure-related information, please refer to the Business Loan Accounts section above.

     

    Trade Transaction Related

    All your outstanding trade transaction reference numbers will undergo change and the same will be communicated to you post the final migration.  Should you need any assistance or details regarding your trade transactions, please walk into your nearest branch or write to us at heretohelpin@dbs.com or call us on 044-66328010 and they will assist you in managing your trade transactions seamlessly.
     

    FX Transaction Related

    All your outstanding FX Forward reference numbers will undergo change and the same will be communicated to you post the final migration.  Should you need any assistance or details regarding your trade transactions, please walk into your nearest branch or write to us at heretohelpin@dbs.com or call us on 044-66328010 and they will assist you with an update on DBIL digital FX offerings.
     

    Nostro Agent Related

    For all your cross-border / import / export transactions, our nostro details will undergo change, details can be accessed in the Nostro Agent Bank Change section above. Please update your counter parties about this change for sending/receiving money seamlessly.